We sit down with ABTC’s Michelle Tankimovich right after Q2 earnings to break down record Bitcoin production, steady margins, and what it means to keep building a treasury during price drawdowns. We also unpack sats per share, fair value accounting noise, and the strategic choices ABTC is making ahead of the halving and the next cycle.

• Q2 highlights including 930+ Bitcoin mined and reserve growth above 8,000 BTC
• Cost per Bitcoin mined and how gross margin stays near 49% to 50% despite a weaker Bitcoin price
• Why management keeps accumulating Bitcoin through operating cash flow rather than relying only on capital markets
• Satoshis per share as a key metric and how dilution discipline fits the strategy
• How FASB fair value accounting creates large paper losses and how we interpret them
• Hedging considerations and why the company prioritises its low-cost structure
• CFO transition details and what derivatives experience could enable over time
• Reverse split motivations including NASDAQ compliance and institutional investor optics
• The 12 to 24 month focus including hash rate growth opportunities and industry shifts toward AI/HPC
• Halving prep themes including fleet efficiency and manufacturer relationships

Let us know in the comment section below what you thought about ABTC's results and if you're currently holding shares!

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